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2023-09-18 SID 494 Minutes MINUTES OF MEETING OF SANITARY AND IMPROVEMENT DISTRICT NO. 494 OF DOUGLAS COUNTY, NEBRASKA A meeting of the Board of Trustees of Sanitary and Improvement District No. 494 of Douglas County, Nebraska, was convened in open and public session at 1:00 p.m. on the 18th day of September, 2023, at 10250 Regency Circle, Suite 300, Omaha, Nebraska. Present were: Charles W. Buell, Gary L. Shipley, Richard L. Wilson, Roger L Motz and Dean T. Hokanson, Ill. Also, in attendance was Mark LaPuzza, attorney for the District. Absent: None. Notice of the meeting was given in advance thereof by publication in The Daily Record, on September 11, 2023, a copy of the proof of publication being attached to these minutes. Notice of this meeting was simultaneously given to all members of the Board of Trustees, and a copy of their acknowledgment of receipt of notice is attached to these minutes. Availability of the agenda was communicated in the published notice and in the notice to the Trustees of this meeting. All proceedings of the Board were taken while the convened meeting was open to the attendance of the public. The agenda was at all times available at the office for the District at 10250 Regency Circle, Suite 300, Omaha, Nebraska 68114. The meeting was called to order. It was first publicly stated to all in attendance that a current copy of the Nebraska Open Meetings Act was available for review and indicated the location of such copy in the room where the meeting was being held. There was next presented in accordance with the provisions of Neb. R.R.S. Section 77-1632, the publication concerning the Board of Trustees recommendation that the property tax request for tax year 2023-2024 be set at a different amount than the 2022-2023 tax request. It was further reported that no person had appeared at the meeting in response to such hearing notice. The Clerk was directed to attach a copy of such notice to the minutes of these proceedings. After discussion and upon a motion duly made and seconded, and upon a roll call vote, the Trustees, Charles W. Buell, Gary L. Shipley, Richard L. Wilson, Roger L Motz and Dean T. Hokanson, III voted"Aye"with none voting"Nay"with the following resolution being thereby adopted and approved: RESOLVED, by the Board of Trustees of Sanitary and Improvement District No. 494 of Douglas County, Nebraska, that it is advisable that the property tax request for tax year 2023-2024 be set at a different amount than the 2022-2023 tax request as set out in the proof of publication attached hereto and incorporated herein by this reference, as follows: 1. The 2023-2024 property tax request be set at $357,248.71 ($0.820000), broken down as follows: Bond Fund $226,547.96-$0.520000 General Fund $130,700.75-$0.300000 TOTAL $357,248.71 -$0.820000 2. The total assessed value of property differs from last year's total assessed value by 18%. 3. The tax rate which would levy the same amount of property taxes as last year, when multiplied by the new total assessed value of property, would be$0.693255 per$100 of assessed value. 4. The District proposes to adopt a property tax request that will cause its tax rate to be$0.820000 per$100 of assessed value, broken down as follows: Bond Fund $226,547.96-$0.520000 General Fund $130,700.75-$0.300000 TOTAL $357,248.71 -$0.820000 5. Based on the proposed property tax request and changes in other revenue, the total operating budget of the District will decrease last year's budget by 44%. 6. A copy of this resolution be certified and forwarded to the County Clerk on or before October 15, 2023. [THE BALANCE OF THIS PAGE LEFT INTENTIONALLY BLANK— SIGNATURES APPEAR ON THE FOLLOWING PAGE] The Chairman next reviewed the Agenda which had been available for public inspection in accordance with the law prior to this meeting of the Board of Trustees and reported that all matters considered by the Board at this meeting appeared on the Agenda. Gary L. Shipley, as Clerk for Sanitary and Improvement District No. 494 of Douglas County, Nebraska (the "District") does hereby certify that the above proceedings are a true and accurate statement of the proceedings had by the District at its September 18, 2023 meeting. Gari L. S4ey, Clerk MINUTES OF MEETING OF SANITARY AND IMPROVEMENT DISTRICT NO. 494 OF DOUGLAS COUNTY, NEBRASKA A meeting of the Board of Trustees of Sanitary and Improvement District No. 494 of Douglas County, Nebraska, was convened in open and public session at 1:05 p.m. on the 18th day of September, 2023, at 10250 Regency Circle, Suite 300, Omaha, Nebraska. Present were: Charles W. Buell, Gary L. Shipley, Richard L. Wilson, Roger L Motz and Dean T. Hokanson, Ill. Also, in attendance was Mark LaPuzza, attorney for the District. Absent: None. Notice of the meeting was given in advance thereof by publication in The Daily Record, on September 11, 2023, a copy of the proof of publication being attached to these minutes. Notice of this meeting was simultaneously given to all members of the Board of Trustees, and a copy of their acknowledgment of receipt of notice is attached to these minutes. Availability of the agenda was communicated in the published notice and in the notice to the Trustees of this meeting. All proceedings of the Board were taken while the convened meeting was open to the attendance of the public. The agenda was at all times available at the office for the District at 10250 Regency Circle, Suite 300, Omaha, Nebraska 68114. The meeting was called to order. It was first publicly stated to all in attendance that a current copy of the Nebraska Open Meetings Act was available for review and indicated the location of such copy in the room where the meeting was being held. It was next reported in accordance with the provisions of Neb. R.R.S. Section 13-501 through 13-513, the District's certified public accountants were directed to prepare a proposed budget and further that the Clerk attended to the required publication of notice with regard to the budgetary hearing to be held by the Board of Trustees. The Clerk had been directed to give the appropriate notices in accordance with the Nebraska Budget Act and that a budgetary hearing for the District be held on the 18th day of September, 2023, at 10250 Regency Circle, Suite 300, Omaha, Nebraska. There was next presented the publication of this budgetary hearing as presented in The Daily Record. It was next reported that such notice of the budgetary hearing along with a budget summary had been published in accordance with law. A presentation of the budget was made and at least three (3) additional copies of the budget were available for inspection. It was further reported that it appeared that no person had appeared at the meeting in response to such notice of the budgetary hearing and the Clerk was directed to attach a copy of such notice to the minutes of these proceedings. After a lengthy discussion and upon a motion duly made and seconded, and upon a roll call vote, the Trustees, Charles W. Buell, Gary L. Shipley, Richard L. Wilson, Roger L Motz and Dean T. Hokanson, III, voted"Aye"with none voting"Nay"with the following resolution being thereby adopted and approved: RESOLVED, by the Board of Trustees of Sanitary and Improvement District No.494 of Douglas County, Nebraska, that the budget hearing is hereby adjourned. The Chairman next reviewed the Agenda which had been available for public inspection in accordance with the law prior to this meeting of the Board of Trustees and reported that all matters considered by the Board at this meeting appeared on the Agenda. Gary L. Shipley, as Clerk for Sanitary and Improvement District No. 494 of Douglas County, Nebraska (the "District") does hereby certify that the above proceedings are a true and accurate statement of the proceedings had by the District at its September 18, 2023 meeting. Gary L. Shipley, CI rk MINUTES OF MEETING OF SANITARY AND IMPROVEMENT DISTRICT NO.494 OF DOUGLAS COUNTY, NEBRASKA A meeting of the Board of Trustees of Sanitary and Improvement District No. 494 of Douglas County, Nebraska, was convened in open and public session at 1:15 p.m. on the 18th day of September, 2023, at 10250 Regency Circle, Suite 300, Omaha, Nebraska. Present were: Charles W. Buell, Gary L. Shipley, Richard L. Wilson, Roger L Motz and Dean T. Hokanson, Ill. Also, in attendance was Mark LaPuzza, attorney for the District. Absent: None. Notice of the meeting was given in advance thereof by publication in The Daily Record, on September 11, 2023, a copy of the proof of publication being attached to these minutes. Notice of this meeting was simultaneously given to all members of the Board of Trustees, and a copy of their acknowledgment of receipt of notice is attached to these minutes. Availability of the agenda was communicated in the published notice and in the notice to the Trustees of this meeting. All proceedings of the Board were taken while the convened meeting was open to the attendance of the public. The agenda was at all times available at the office for the District at 10250 Regency Circle, Suite 300, Omaha, Nebraska 68114. The meeting was called to order. It was first publicly stated to all in attendance that a current copy of the Nebraska Open Meetings Act was available for review and indicated the location of such copy in the room where the meeting was being held. Discussion was had concerning the budget hearing which was held immediately prior to this meeting. After a lengthy discussion and upon a motion duly made and seconded, and upon a roll call vote, the Trustees, Charles W. Buell, Gary L. Shipley, Richard L. Wilson, Roger L Motz and Dean T. Hokanson, III, voted "Aye"with none voting"Nay"with the following resolution being thereby adopted and approved: RESOLVED, by the Board of Trustees of Sanitary and Improvement District No. 494 of Douglas County, Nebraska, that the budget and tax levy.as tentatively set forth be adopted as the final budget and levy in accordance with Exhibit"A" attached hereto and by this reference made a part hereof. Further that the Clerk of the District be directed to file a copy of the adopted budget with the levying board of the State Auditor's office as well as certifying the levy to the Douglas County officials as well as attaching a proof of publication to such adopted budget. With the budget for the District having been adopted, it was then stated that it would be appropriate at this time to levy the tax in accordance with the budget statement. After a full and complete discussion and upon a motion duly made and seconded, and upon the following roll call vote, the Trustees, Charles W. Buell, Gary L. Shipley, Richard L. Wilson, Roger L Motz and Dean T. Hokanson, Ill voted "Aye" with none voting"Nay"thereby passing and adopting the following resolution: RESOLVED, that Sanitary and Improvement District No. 494 of Douglas County, Nebraska, levy and collect for the year 2023-2024 a tax of $0.820000 per One Hundred and no/100 Dollars ($100.00) actual valuation of taxable property in the District, except intangible property, said tax to be credited to the appropriate fund as indicated below: $0.300000 on each One Hundred and no/100 Dollars ($100.00) actual valuation to be credited to the General Fund of the District and thereby collect$130,700.75 in taxes to be credited to this fund; and $0.520000 on each One Hundred and no/100 Dollars ($100.00) actual valuation to be credited to the Construction (Bond) Fund of the District and thereby collect$226,547.96 in taxes to be credited to this fund. FURTHER RESOLVED, that the Clerk of this District be and hereby is directed to deliver and file with the County Clerk of Douglas County, Nebraska and the Auditor of Public Accounts, a copy of this resolution. The next order of business was discussion regarding the potential development of residential lots requested by Dakota Land, LLC. Steve Reeder appeared and noted he had sent correspondence and a preliminary source and use of funds analysis to the Trustees in late June. There was an extended discussion regarding the proposed project. There was some confusion as to certain water runoff obligations and the treatment of those obligations within the project as proposed. Steve Reeder noted he intended to communicate with Doug Dreesen of Thompson Dreesen & Dorner, Inc. to verify facts and figures in the analysis. The Trustees noted that Doug Dreesen was the engineer of record for the District but for the purpose of establishing independence, the Trustees would likely engage separate engineering representation for both preliminary analysis and, ultimately, project oversight. There were additional discussions regarding the portion of the expenses which would be specially assessed versus general obligation debt of the District. The Trustees expressed concern that the financial condition of the District was such that the costs should be specially assessed against the lots benefited. Additionally, there was concern expressed regarding balancing between the attempt to foster development in the District as compared to the expectations and desires of District residents. Ultimately, no formal decision was made on the matter. The next order of business was discussion regarding culverts. The Trustees discussed that some additional repair remediation on a remaining culvert might be required in the coming year. The next order of business was discussion regarding service to the unpaved streets in the District. The Trustees discussed that use of chip seal or other road surface might be considered for at least portions of the District where traditional road surfacing efforts had not been sufficient. Particularly, with respect to dust mitigation. The Trustees agreed to continue discussing this matter and review future proposals. The next order of business was discussion regarding continuing property sales related to tax foreclosures and the Land Reutilization Commission. Mark LaPuzza reported that the District had, consistent with prior agreements and directives, notified the Land Reutilization Commission of its intention to purchase 2530 N. 137th Street. It was noted that the Trustees will likely meet in the coming months to pay other bills as well as to provide final payment for this property. The next order of business was discussion regarding disposition of buildable lots owned by the District. Mark LaPuzza presented to the District that the Trustees would need to exercise their judgment in determining when and how to sell these lots owned by, or coming into possession of, the District. Whether by hiring a real estate agent, engaging in a public auction, or taking other action, it was suggested that the Trustees should consider retaining professional assistance in order to avoid implication that the property was not sold in a commercially responsible fashion. It was also discussed that the Trustees would be able to set some limitations or conditions on the sale of the property, such as requiring construction to be completed in a certain period of time. It was discussed that a reasonable monetary offset might be included in a Purchase Agreement for a purchaser that does not complete construction as required. There were next presented miscellaneous bills, invoices, statements, and recommendations for the Board's consideration. There was next presented a statement from BOK Financial, for annual paying agent fees, for Series 2017 GO, and Series 2019 GO Refunding, Invoice dated July 21, 2023, in the amount of One Thousand Four Hundred and no/100 Dollars ($1,400.00). There was next presented a copy of the Order of Confirmation for the Sheriff Sale of Lot 29, Block 22, Green Meadows, a Subdivision, as surveyed, platted and recorded in Douglas County, Nebraska. The District was the successful bidder and now is to pay the amount of Eleven Thousand Nine Hundred Eighty-Six and 06/100 Dollars ($11,986.06), to the Clerk of the District Court, Douglas County, NE. There was next presented an invoice from Valley Corporation, Invoice #27417, in the amount of Two Thousand Two Hundred Fifty-One and 12/100 Dollars($2,251.12). There was next presented an invoice from Kildow Construction Inc., for installing 48" culvert, and hauling in dirt, Invoice #1709, in the amount of Sixteen Thousand Six Hundred Fifty-Six and no/100 Dollars ($16,656.00). There was next presented an invoice from Moore's Concrete Construction, Inc., for road repairs, Invoice #2-494-23, in the amount of Three Thousand Four Hundred Twenty-Four and 30/100 Dollars ($3,424.30). There was next presented an invoice from Lutz & Company, PC, for professional services rendered for completion of annual budget for 2023-23 and progress bill related to audited financial statements, Invoice #335804, in the amount of Three Thousand Two Hundred Fifty and no/100 Dollars ($3,250.00). There was next presented an invoice from One Call Concepts, Inc., for line locates within the District, Invoice #3061027, in the amount of Five and 18/100 Dollars ($5.18). The Board was next reminded that it has a credit balance in the amount of Forty-Three and 88/100 Dollars ($43.88), so no payment is due at this time. There were next presented invoices from Corky Buell, for maintenance of roads, as follows: (i) Invoice #2659, in the amount of Nine Hundred and no/100 Dollars ($900.00), (ii) Invoice #2760, in the amount of Seven Hundred Eighty-Seven and 50/100 Dollars ($787.50), and (iii) Invoice #2764, in the amount of One Thousand Five Hundred Twenty-Five and no/100 Dollars ($1,525.00); said invoices being in the aggregate amount of Three Thousand Two Hundred Twelve and 50/100 Dollars ($3,212.50). There was next presented a statement from Pansing Hogan Ernst & Buser LLP, attorneys for the District, for legal service performed through August 31, 2023, in the amount of Nine Thousand Six Hundred Ninety-Eight and no/100 Dollars ($9,698.00), and costs advanced in the amount of Sixty-Nine and 94/100 Dollars ($69.94); said statement being in the aggregate amount of Nine Thousand Seven Hundred Sixty-Seven and 94/100 Dollars ($9,767.94). The previously described bills, invoices, recommendations and statements having been presented for the Board's consideration and after review and discussion of such items, the following resolution was duly moved and passed: RESOLVED, by the Board of Trustees of Sanitary and Improvement District No. 494 of Douglas County, Nebraska, that the Chairman and Clerk be and they hereby authorized and directed to execute and deliver Warrant Nos. 1560 through 1573 of the District, dated the date of this meeting, to the following payees and in the following amounts, said Warrants to be drawn on the General Fund of the District and to draw interest at the rate of six percent (6%) per annum and to be redeemed no later than September 18, 2026, subject to extension of said maturity date by order of the District Court of Douglas County, Nebraska, after notice is given as required by law, to-wit: Warrant No. 1560,for the amount of One Thousand Four Hundred and no/100 Dollars($1,400.00), payable to BOK Financial. Warrant Nos. 1561 and 1562, each for the amount of Five Thousand and no/100 Dollars ($5,000.00), and Warrant No. 1563, for the amount of One Thousand Nine Hundred Eighty-Six and 06/100 Dollars ($1,986.06), payable to Clerk of the District Court, Douglas County, NE. Warrant No. 1564, for the amount of Two Thousand Two Hundred Fifty-One and 12/100 Dollars($2,251.12), payable to Valley Corporation. Warrant Nos. 1565 through 1567, each for the amount of Five Thousand and no/100 Dollars ($5,000.00), and Warrant No. 1568, for the amount of One Thousand Six Hundred Fifty-Six and no/100 Dollars ($1,656.00), payable to Kildow Construction Inc. Warrant No. 1569, for the amount of Three Thousand Four Hundred Twenty-Four and 30/100 Dollars ($3,424.30), payable to Moore's Concrete Construction, Inc. Warrant No. 1570, for the amount of Three Thousand Two Hundred Fifty and no/100 Dollars ($3,250.00), payable to Lutz & Company, PC. Warrant No. 1571, for the amount of Three Thousand Two Hundred Twelve and 50/100 Dollars ($3,212.50), payable to Corky Buell. Warrant No. 1572, for the amount of Five Thousand and no/100 Dollars ($5,000.00), and Warrant No. 1573, for the amount of Four Thousand Seven Hundred Sixty-Seven and 94/100 Dollars ($4,767.94), payable to Pansing Hogan Ernst& Buser LLP. FURTHER RESOLVED by the Board of Trustees of Sanitary and Improvement District No. 494 of Douglas County, Nebraska, that both they and the district hereby find and determine and covenant, warrant and agree as follows: the improvements and/or facilities being financed or refinanced by the above Warrants are for essential governmental functions and are designed to serve members of the general public on an equal basis; all said improvements have from the time of their first acquisition and construction been owned, are owned and are to be owned by the District or another political subdivision; to the extent special assessments have been or are to be levied for any of said improvements, such special assessments have been or are to be levied under Nebraska law as a matter of general application to all property specially benefited by said improvements in the District; the development of the land in the District is for residential or commercial use and the development of the land in the District for sale and occupation by the general public has proceeded and is proceeding with reasonable speed; other than any incidental use of said improvements by a developer during the initial period of development of said improvements, there have been, are and will be no persons with rights to use such improvements other than as members of the general public; none of the proceeds of said Bonds or any refinanced indebtedness have been or will be loaned to any private person or entity; the District hereby authorizes and directs the Chairperson or Clerk to file or cause to be filed, when due, an information reporting form pursuant to Section 149(e) of the Internal Revenue Code of 1986, as amended, pertaining to the above Warrants; and the District does not reasonably expect to sell or otherwise dispose of said improvements and/or facilities, in whole or in part, prior to the last maturity of the above Warrants. FURTHER RESOLVED by the Board of Trustees of Sanitary and Improvement District No. 494 of Douglas County, Nebraska, that the District hereby covenants, warrants and agrees as follows: (a)to take all actions necessary under current federal law to maintain the tax exempt status (as to taxpayers generally) of interest on the above Warrants; and (b) to the extent that it may lawfully do so, the District hereby designates the above Warrants as its "qualified tax exempt obligations" under Section 265(b)(3)(B)(i)(III) of the Internal Revenue Code of 1986, as amended, and covenants and warrants that the District does not reasonably expect to issue warrants or bonds or other obligations aggregating in the principal amount of more than $5,000,000 during the calendar year in which the above Warrants are to be issued. FURTHER RESOLVED, by the Board of Trustees of Sanitary and Improvement District No. 494 of Douglas County, Nebraska, that this and the preceding Resolutions are hereby adopted as the Certificate With Respect to Arbitrage of the District pertaining to the above Warrants and the District and the Chairman and Clerk of the District hereby further certify, as of the date of the registration of the above Warrants with the County Treasurer of Douglas County, Nebraska, as follows: 1. No separate reserve or replacement fund has been or will be established with respect to the above Warrants. The District reasonably anticipates that monies in its Bond Fund reasonably attributable to the above Warrants in excess of the lesser of: (a) ten percent (10%) of the net principal proceeds of the above Warrants, (b) the maximum annual debt service due on the above Warrants, or (c) one hundred twenty-five percent (125%) of average annual debt service due on the above Warrants will be expended for payment of principal of and interest on the above Warrants within thirteen (13) months after receipt of such monies. That amount which is currently held in the District's Bond Fund which exceeds the amount which is to be expended for payment of principal and interest on the above Warrants within thirteen (13) months after receipt of such monies, plus that amount arrived at pursuant to the immediately preceding sentence, will not be invested in any securities or any other investment obligations which bear a yield, as computed in accordance with the actuarial method, in excess of the yield on the above Warrants. 2. To the best of their knowledge, information and belief, the above expectations are reasonable. 3. The District has not been notified of any listing of it by the Internal Revenue Service as an issuer that may not certify its bonds. 4. This Certificate is being passed, executed and delivered pursuant to Section 1.148-2(b)(2)of the Income Tax Regulations under the Internal Revenue Code of 1986, as amended. [THE BALANCE OF THIS PAGE LEFT INTENTIONALLY BLANK— SIGNATURES APPEAR ON THE FOLLOWING PAGE] The Chairman next reviewed the Agenda which had been available for public inspection in accordance with the law prior to this meeting of the Board of Trustees and reported that all matters considered by the Board at this meeting appeared on the Agenda. Gary L. Shipley, as Clerk for Sanitary and Improvement District No. 494 of Douglas County, Nebraska (the "District") does hereby certify that the above proceedings are a true and accurate statement of the proceedings had by the District at its September 18, 2023 meeting. Gam L. pley, Clerk/,